Revenues at Madrid-based international portal operator Idealista grew 18.8% YoY to €259million ($289 million) in 2023 according to files submitted to the Spanish government by Idealista Global, the parent company of Idealista.
EBITDA was $105 million and the EBITDA margin was an impressive 36.3%.
The Spain segment recorded revenue growth of 18% YoY to €155 million, while Portugal and Italy increased to €104 million, up 21% YoY.
Overall revenue from online publishing and advertising amounted to €230 million, with the rest of the revenue (€30 million) made up by other services including real estate credit brokerage, online booking development, vacation rental portal management and CRM, up 30.4% YoY.
However, the company made a loss of €79.7 million with a debt of €344 million, up circa 25% YoY.
Cinven took a 70% stake in Idealista earlier this year at a valuation of over €3 billion, with previous majority shareholder EQT retaining an 18% stake.
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